International students often face challenges securing financial support for their education in the United States.
One popular choice among lenders is Wells Fargo, known for its student-friendly loan options.
In this article, we will explore the 7 best Wells Fargo loan for international students, along with other competitive options available.
This guide includes a comprehensive table summarizing key loan details, followed by in-depth descriptions of each provider.
Best Wells Fargo Loan for International Students
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| 1. Wells Fargo Private Loan | Up to $120,000 | Yes | 4.49% – 13.74% | 5 – 15 years | Co-signer required for international students. |
| 2. Discover Student Loans | Up to $100,000 | No | 5.99% – 12.49% | 10 – 20 years | Must be enrolled in an accredited U.S. school. |
| 3. Prodigy Finance | Up to $100,000 | No | 7.5% – 11% | 7 – 20 years | Admission to partner universities. |
| 4. Sallie Mae International Loan | Up to 100% of education costs | Yes | 4.50% – 13.83% | 5 – 15 years | Enrollment in a U.S. university. |
| 5. Ascent Student Loans | Up to $200,000 | No (for some plans) | 4.48% – 15.66% | 5 – 15 years | Enrollment in an eligible institution. |
| 6. College Ave Student Loans | Up to $150,000 | Yes | 4.44% – 14.49% | 5 – 20 years | Enrollment in a U.S. university. |
| 7. MPOWER Financing | Up to $100,000 | No | 7.99% – 13.99% | 10 years | Enrollment in a partner school; U.S. co-signer not required. |
1. Wells Fargo Private Loan
Wells Fargo has been a top choice for international students who have a U.S.-based co-signer.
Their loans offer flexible repayment terms and competitive interest rates.
- Loan Amount: Up to $120,000.
- Interest Rates: Fixed rates from 4.49% to 13.74%.
- Loan Terms: 5 to 15 years.
- Eligibility: Requires a U.S.-based co-signer. Borrowers must be enrolled at least half-time in an eligible institution.
2. Discover Student Loans
Discover provides an excellent option for international students who meet their eligibility criteria.
- Loan Amount: Up to $100,000.
- Interest Rates: Variable rates range from 5.99% to 12.49%.
- Loan Terms: 10 to 20 years.
- Eligibility: Enrollment in an accredited U.S. institution is required. Discover does not require a co-signer for certain loan types, but it may improve approval chances.
3. Prodigy Finance
Prodigy Finance is a great choice for international students who lack a U.S.-based co-signer.
- Loan Amount: Up to $100,000.
- Interest Rates: Variable rates from 7.5% to 11%.
- Loan Terms: 7 to 20 years.
- Eligibility: Students must be admitted to one of Prodigy’s partner universities.
4. Sallie Mae International Loan
Sallie Mae is a reliable provider for students looking to finance up to 100% of their education costs.
- Loan Amount: Covers up to 100% of education-related expenses.
- Interest Rates: 4.50% to 13.83%.
- Loan Terms: 5 to 15 years.
- Eligibility: Requires enrollment in an eligible U.S. institution and a U.S.-based co-signer.
5. Ascent Student Loans
Ascent provides loans for international students, with or without a co-signer, depending on eligibility.
- Loan Amount: Up to $200,000.
- Interest Rates: Variable rates between 4.48% and 15.66%.
- Loan Terms: 5 to 15 years.
- Eligibility: Students must be enrolled in an eligible institution. A co-signer is optional for some loan products.
6. College Ave Student Loans
College Ave stands out for its borrower-friendly repayment plans and quick online application process.
- Loan Amount: Up to $150,000.
- Interest Rates: 4.44% to 14.49%.
- Loan Terms: 5 to 20 years.
- Eligibility: Students must be enrolled in a U.S. university. A co-signer is typically required for international students.
7. MPOWER Financing
MPOWER Financing is a top choice for international students without access to a U.S. co-signer.
- Loan Amount: Up to $100,000.
- Interest Rates: Fixed rates from 7.99% to 13.99%.
- Loan Terms: 10 years.
- Eligibility: Enrollment in an MPOWER partner school is mandatory. No co-signer is required, and visa documentation is supported.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can international students apply for a Wells Fargo student loan without a co-signer?
No, Wells Fargo requires a U.S.-based co-signer for international students applying for their private student loans.
How does MPOWER Financing differ from Wells Fargo loans?
Unlike Wells Fargo, MPOWER Financing does not require a co-signer and offers loans based on the borrower’s future earning potential instead of credit history.
What is the typical loan application process for international students?
The process involves submitting proof of enrollment, a valid visa, and a co-signer’s details (if required). Some providers, like MPOWER Financing, have simplified application procedures tailored for international students.
Conclusion
Financing education as an international student can be daunting, but options like Wells Fargo, MPOWER Financing, and College Ave provide tailored solutions.
When choosing the best student loan, consider factors such as interest rates, co-signer requirements, and repayment terms to find the best fit for your needs.
